Member Services: email@example.com
Online Questions: firstname.lastname@example.org
ANNUAL MEETING POSTPONED
Due to concerns over large gatherings we have postponed the previously scheduled April 28th Annual Meeting.
Hello Minnesota Valley Federal Credit Union Members:
Hope all is as well with you folks as can be expected. There is a lot going on as we all know. Because of precautions and preventions related to Covid 19 MVFCU like other financials closed our lobbies on March 20, 2020. We immediately expanded our phone hours to 7am to 7pm M-F and 8am to 5pm on Saturday.
We do have a few employees working remotely but for most of us we’ve been coming in to work every day though practicing social distancing and such. Good we have multiple buildings. Here it is early June and like other financials our lobbies are still closed. We’re relying on our two drive ups, online banking, phones, e-mail and technology though we have met with members in the parking lot when required.
So, when will the lobbies be opened and we’ll be back to normal?
We have been carefully following the medical experts and other leaders. We adhere to those guidelines. We’re watching what other financial and business do and don’t. Health and safety are the two most important elements. Though you as a member have been very inconvenienced along the way. And we never forget as a cooperative this is your credit union. You own it.
We will reopen as soon as reasonably possible, in phases.
We’ll have hand sanitizer and wipes and we’ll constantly disinfect. We do have Plexiglas up at the teller lines. We’d like you to wear a mask. At first just the lobby and teller lines will open. Not offices. The employee will come to you behind Plexiglas in the lobby area. If we need to use an office we’ll have a designated meeting space for this. Eventually we’ll be back to normal, but again, in phases. Thanks for you wonderful and admirable patience through this all. We are very appreciative of all of our members.
Over the last few months and at 4/30/20 we’ve reached all-time highs in Members (15,724), Assets ($201M), Member deposits ($182M), Investments ($88M), and Member owned capital ($19.2M). With outstanding loans of ($108M) and a sold but servicing first mortgage loan portfolio of ($124M). In addition last year 2019 we originated 256 first mortgages and through 5/31/20 we’ve originated a record 243 (in 5 months) so far. We’ve been busy. What does this mean for you? MVFCU is a very safe and sound Credit Union. We’re always thinking about you, the member, and how we can help which in turns helps our wonderful community of four counties.
Thank you & Best Regards
On May 6, the IRS released new instructions on how to return deceased relatives’ money and below that for the website.
If the payment was a paper check:
- Write "Void" in the endorsement section on the back of the check.
- Mail the voided Treasury check immediately to the appropriate IRS location
- Don't staple, bend or paper clip the check.
- Include a note in the envelope stating the reason for returning the check.
If the payment was a paper check and you have cashed it, or if the payment was a direct deposit:
•Submit a personal check, money order, etc., immediately to the appropriate IRS location.
•Write on the check/money order made payable to “U.S. Treasury” and write 2020EIP, and the taxpayer identification number (social security number, or individual taxpayer identification number) of the recipient of the check.
•Include a brief explanation in the envelope with the reason for returning the EIP.
Here is the address that they should send the check to:
Kansas City Refund Inquiry Unit
333 W Pershing Rd
Mail Stop 6800, N-2
Kansas City, MO 64108
For additional details and information, please visit: https://www.irs.gov/coronavirus/economic-impact-payment-information-center
The first round of Economic Impact Payments have started to be direct deposited in accounts from the IRS. You can track the status of your eligible deposit at:
For more information on eligibility and details, please visit:
Due to concerns regarding social distancing, we’ve decided to postpone our April Shred Date. The updated date will be Saturday, June 13th. Thank you for understanding & we look forward to seeing you at our June Shred Day Event.
Minnesota Valley Federal Credit Union is here to help. We’ve been in this community since 1934. Covid 19 is having significant economic impact as we all know.
Keeping your job and paying bills during this time is challenging for many. That’s serious. We’re a member owned financial cooperative. We serve four counties.
Our mission is “People, not Profit.” If we can be of service to you, let us know. Our motto is “Tell us what you want. We listen. Then deliver.”
We’re all in this together.
During the events surrounded by COVID-19, we are offering extended services to help our members. Please reach out to us to find what option best fits your needs.
- Low Interest & Easy Repayment on Spring Cleanup & COVID-19 Loan. Talk to a loan officer for details.
- Loans with Delayed First Payment. We are offering loan payments delayed up to 90 days.
- Check our Website & Facebook to Stay Informed. You can easily find updates regarding any changes on our website or Facebook. Visit www.mnvalleyfcu.coop for more information.
- Now Offering Extended Phone Hours. We are here on the phone to answer your questions. Phone hours: Monday- Friday 7am-7pm and Saturday 8am-5pm.
- Our Drive-thru is Open. Visit us at our drive-thru. We are offering our full menu of services through our drive-thru at both locations.
- Line of Credit. We provide a variety of services to help you avoid an overdraft fee.
- Apply Online. Whether you are looking for a loan or to open a new account, our online application makes this process easy.
- Sign up for Online or Mobile Banking Today. Check your balances, view transactions, make transfers, deposit checks, pay bills, and more. Our online and mobile services are available 24/7 to help you with your banking. Visit www.mnvalleyfcu.coop/online-banking to learn more.
- We have over 33,000 ATM's Nationwide. Use your debit card at one of our surcharge-free ATMs. Look for the MoneyPass logo or view the ATM locator HERE
- Mail us your Deposits & Payments. We can easily process your deposits and payments through the mail. Send them to us at PO BOX 4399 Mankato, MN 56002
MARCH 27 UPDATE:
Governor Tim Walz has recently announced a Stay At Home Executive Order directing Minnesotans to limit movements outside of their homes beyond essential needs from Friday, March 27th at 11:59pm to Friday, April 10th at 5:00pm.
The CISA Guidance from the Department of Homeland Security defines Credit Union’s as an exempt, essential service. Therefore, we will remain open as usual to provide service to you, the member owner, for any of your financial needs. If you find yourself in a difficult situation due to the economic dilemma of COVID-19, please know that MVFCU is here to help you in any way we can.
MARCH 20 UPDATE:
As always since 1934, your credit union, MVFCU, is fully prepared to help you navigate through COVID-19 and the economic dilemma it is creating across the state, nation, and globe. Locally, we know some businesses are closed or reducing hours, and that has a direct impact on your pay checks and ability to pay bills for you and your family.
Just call or email to explain your situation and we will help you find a solution including postponing loan payments, lines of credit, and other relief services.
MARCH 19 UPDATE:
We apologize, but for your protection against COVID-19 we have decided to temporarily close lobby access at both of our branch locations, effective Friday, March 20th, 2020 until further notice.
We of course will continue to serve you through our drive-thrus and all other remote means including telephone, email, online banking, mobile banking, mobile deposits, and audio response teller, etc...
We will be answering the telephone from 7am to 7pm, Monday - Friday, and 8am - 5pm Saturday.
507-387-3055 or 800-247-0522
THANK YOU very much for understanding, we will resume normal operations as soon as it is safe for all.
MARCH 18 UPDATE:
MVFCU has Loan Skip Payments, hard times extensions and Short Terms loans available for our members who have had their income impacted by Covid-19 Precautions. Call 507-387-3055 or email email@example.com for more information.
MARCH 17 UPDATE:
We are currently OPEN. However we strongly recommend you use our drive thru services and come into our lobby only for appointments and matters of great significance.
MARCH 13 UPDATE:
Our staff is still here to assist you, but we strongly encourage you to use our online and mobile banking systems for your banking needs. This includes depositing checks via Mobile Deposit through our Mobile MVFCU smart phone app. You can download our smart phone application from your mobile device at the links below.